Raymond James (NYSE:RJF) Short Interest Update

Raymond James (NYSE:RJF) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,756,000 shares, a drop of 15.5% from the May 30th total of 2,077,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 928,200 shares, the short-interest ratio is currently 1.9 days.

RJF stock traded up $0.72 on Friday, reaching $86.10. The company’s stock had a trading volume of 543,305 shares, compared to its average volume of 975,202. The company has a fifty day moving average price of $83.92. Raymond James has a 12-month low of $69.11 and a 12-month high of $97.62. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 13.31 and a beta of 1.52. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.14. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Raymond James will post 7.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, June 28th. Raymond James’s payout ratio is 21.02%.

In other news, CFO Jeffrey P. Julien sold 28,073 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $90.99, for a total transaction of $2,554,362.27. Following the completion of the sale, the chief financial officer now owns 67,738 shares of the company’s stock, valued at $6,163,480.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 60,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $91.35, for a total value of $5,481,000.00. Following the sale, the chief executive officer now directly owns 80,382 shares of the company’s stock, valued at approximately $7,342,895.70. The disclosure for this sale can be found here. Insiders have sold 109,881 shares of company stock worth $10,012,987 over the last quarter. Company insiders own 10.74% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RJF. Norges Bank purchased a new stake in Raymond James in the fourth quarter worth $62,711,000. Thrivent Financial for Lutherans raised its holdings in Raymond James by 2,964.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 685,464 shares of the financial services provider’s stock worth $51,005,000 after purchasing an additional 663,096 shares in the last quarter. Primecap Management Co. CA raised its holdings in Raymond James by 27.9% in the first quarter. Primecap Management Co. CA now owns 2,039,950 shares of the financial services provider’s stock worth $164,032,000 after purchasing an additional 445,300 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in Raymond James in the fourth quarter worth $16,288,000. Finally, Deutsche Bank AG raised its holdings in Raymond James by 74.9% in the fourth quarter. Deutsche Bank AG now owns 326,376 shares of the financial services provider’s stock worth $24,281,000 after purchasing an additional 139,785 shares in the last quarter. 70.05% of the stock is owned by institutional investors.

A number of analysts have recently weighed in on RJF shares. Argus reissued a “buy” rating and set a $215.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Citigroup lowered Apergy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $34.00 in a research note on Tuesday. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Zacks Investment Research raised IQE from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of AON in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $94.88.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.

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